Business
Kaspersky advocates protecting Sri Lanka’s digital future by combatting vulnerabilities
Sri Lanka’s rapid adoption of digital technologies has ushered in tremendous opportunities for economic growth and innovation. However, this accelerated digitization also exposes critical vulnerabilities in software and infrastructure that cybercriminals eagerly exploit.
According to the Kaspersky Security Bulletin 2024 and the Kaspersky 2024 Threat Statistics Report, exploit-driven threats rose sharply globally, with malicious file detections increasing 14% to 467,000 per day. Trojan activity grew by 33%, and Trojan-droppers surged X2.5 times. The Kaspersky Top Exploited Vulnerabilities 2023–2024 report also shows exploited Linux vulnerabilities more than tripled year-on-year, signaling a clear global rise in exploit-based cyberattacks. These attacks leverage weaknesses in widely-used software, such as operating systems, applications, and drivers, to bypass security controls, implant malware, or steal sensitive information.
Sam Yan, Head of Sales for Asia Emerging Countries at Kaspersky, stresses, ‘‘Many organizations in Sri Lanka still operate legacy IT systems or delay critical security patches, creating ripe conditions for attackers exploiting known vulnerabilities. This vulnerability is compounded by attackers’ consistent use of zero-day exploits, previously unknown software flaws that cannot be patched until they are discovered, leaving organizations exposed on multiple fronts.”
According to Kaspersky, attacks targeting vulnerable Windows drivers showed an upward trend for Q1 and Q2 2025: There was a 25% growth in Q1 2025 compared to Q1 2024 and an 8% growth in Q2 2025 compared to Q2 2024, with these drivers being exploited for ransomware and APT campaigns. Meanwhile, Linux systems face growing threats as critical vulnerability registrations surged threefold in 2023 compared to the 2019-2022 average, reflecting Linux’s expanding adoption in enterprise environments. Yan warns, “The diversity of IT environments in Sri Lanka, from government departments to private firms, means a one-size-fits-all approach doesn’t work. Organizations need tailored vulnerability management strategies that include continuous patching, automated scanning, and employee training.”
Furthermore, macOS users are not immune. New spyware and backdoors targeting Apple devices emerge constantly, highlighting the expanding attack surface. Yan adds, “Sri Lanka’s cybersecurity ecosystem must evolve from reactive defense to proactive threat hunting and response. Investments in threat intelligence platforms and endpoint detection and response (EDR) tools can drastically reduce the window of vulnerability.”
He advocates public-private cooperation, saying, “Combating software vulnerabilities requires a unified effort. Government agencies, tech vendors, and cybersecurity firms must collaborate on information sharing and rapid response protocols.”
In 2024, Sri Lanka experienced 9,218 phishing attacks that impersonated financial institutions to target businesses. This substantial threat volume demonstrates the need for organizations to implement regular penetration testing and cyber drills to identify vulnerabilities before attackers can exploit them.
To protect yourself and your business from ransomware attacks, consider following the rules proposed by Kaspersky experts: Do not expose remote desktop/management services (such as RDP, MSSQL, etc.) to public networks unless absolutely necessary and always use strong passwords, two-factor authentication and firewall rules for them. Promptly install available patches for commercial VPN solutions providing access for remote employees and acting as gateways in your network. Always keep software updated on all the devices you use to prevent ransomware from exploiting vulnerabilities. Pay special attention to the outgoing traffic to detect cybercriminals’ connections.
Two groundbreaking reports launched by the Pathfinder Foundation in collaboration with the Australian Trade and Investment Commission have laid out a practical vision for Sri Lanka’s economic future, pinpointing the mineral and clean energy sectors as twin engines for sustainable growth and investment.
The reports, unveiled on December 17 in Colombo, present actionable roadmaps for project developers and technology providers, positioning Sri Lanka as an emerging frontier in the global clean energy and critical minerals supply chain.
Key content from the minerals report:
Sri Lanka’s largely underutilised mineral sector holds significant potential, with resources increasingly vital to global industries. The country boasts high-purity graphite, rare earth elements (REEs), mineral sands, and phosphate – all critical for electric vehicles, renewable energy technologies, and high-tech manufacturing.
While current mineral exports are around USD 389 million, the International Trade Centre estimates a potential of USD 778 million, with primary data suggesting the true figure could reach USD 2 billion. To capture this value, the report stresses moving beyond exporting raw materials to domestic refining and beneficiation.
A key strategic recommendation is deeper regional collaboration, particularly under the South Asian Free Trade Area (SAFTA). It highlights an opportunity for Sri Lanka to partner with India’s booming automotive and clean energy sectors, where demand for REEs and permanent magnets is soaring. This could involve upstream Indian investment in Sri Lankan REE resources or exports of rare earth oxides for India’s EV, wind, and electronics industries.
Key content from Clean Energy report:
Parallel to its mineral potential, Sri Lanka is pursuing an ambitious transition to clean energy, targeting carbon neutrality by 2050. The country’s renewable energy sector offers a diverse range of investment and trade opportunities for international stakeholders, spanning large-scale utility projects, distributed generation, and service-based collaborations.
Specific opportunities include utility-scale solar and wind projects, offshore wind resource mapping, and rooftop solar in urban corridors. There is also growing momentum for Battery Energy Storage Systems (BESS) to stabilise the grid, green hydrogen pilot plants, and the development of net-zero industrial parks powered entirely by renewables.
The reports highlight a powerful synergy: Sri Lanka’s minerals are essential for the very clean technologies it seeks to deploy. For instance, its phosphate can be used in lithium iron phosphate (LFP) batteries, while its high-purity quartz is vital for solar-grade silicon.
Australia is identified as a key partner in both sectors. Australian Mining Equipment, Technology, and Services (METS) firms can provide cutting-edge, sustainable mining technology, while Australian expertise in smart grids, BESS, and green hydrogen aligns with Sri Lanka’s long-term energy strategy.
While outlining vast potential, the reports also acknowledge challenges, including regulatory complexities, infrastructure gaps, and the need for enhanced skills development. Proposed solutions include modernising approval processes, developing a national critical minerals strategy, and fostering public-private partnerships.
The consensus from keynote speakers at the event – including Pathfinder Foundation Chairman Bernard Goonetilleke, Australian High Commissioner Matthew Duckworth, and senior representatives from academia, government, and Austrade – was clear. Their collective insight underscored the reports’ central thesis: Sri Lanka is presented with a unique, synergistic opportunity. By strategically developing its mineral wealth and accelerating its clean energy transition in tandem, the nation can attract significant foreign investment, create high-value jobs, and secure a competitive position in the Indo-Pacific’s sustainable economic future.
By Sanath Nanayakkare ✍️
The Commercial Bank of Ceylon has signed a Memorandum of Understanding with Prime Lands and Prime Land Residencies to provide up to 100% financing for customers purchasing condominium units or gated houses developed by the Prime Group, demonstrating the Bank’s unwavering commitment to empowering more Sri Lankans to achieve their dream of home ownership.
The agreement enables prospective homeowners to seamlessly access Commercial Bank’s home loan facilities with tripartite agreements involving the developer, the buyer and the Bank. As the market leader in home loans, Commercial Bank brings unmatched expertise and flexibility to borrowers seeking to invest in properties developed by one of Sri Lanka’s most trusted names in real estate.
Commenting on the partnership, S. Ganeshan, Deputy General Manager – Personal Banking at Commercial Bank said: “This agreement with Prime Lands and Prime Land Residencies creates an excellent opportunity for us to expand our housing loan portfolio while enabling more Sri Lankans to realise one of their life goals. Commercial Bank’s strong home loan offering, combined with Prime Group’s reputation as a leading developer, ensures customers benefit from both financial strength and quality of construction.”
The Prime Group, which positions itself as the leader of real estate artistry in Sri Lanka, comprises subsidiaries associated with lands, houses, finance and condominiums. With over 30 years of trust and excellence and a base of more than 300,000 customers, the Group says it is driven by its evergreen vision: ‘Committed to Creating a Better Place on Earth,’ which continues to inspire its passion to deliver homes that bring customers’ dreams to life.
Mahogany Masterpieces, a Sri Lankan luxury furniture brand, has launched the “An Ode to Grain” collection. This showcase honors mahogany’s natural beauty and the brand’s craftsmanship. The philosophy is to let the wood’s grain guide the design, creating timeless pieces that respect the material. The collection includes new architectural elements like architraves, paneling, and corbels, designed to bring lasting warmth and character to interiors.
Visitors can view the full collection at the Mahogany Masterpieces Showroom and Design Studio which is located at No. 87, Dr. Lester James Peiris Mawatha (Dickman’s Road), Colombo – 05. www.mahoganymasterpieces.com
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